Posts Tagged ‘Place’

DuCharme Place, Detroit’s Premier Downtown Apartment Community

DuCharme Place, Detroit Michigan

Detroit, Michigan (PRWEB) April 02, 2015

The City of Detroit will soon proudly welcome its most significant new residential development in nearly half a century. Nestled in historic Lafayette Park designed by world-renowned architect Mies van der Rohe, DuCharme Place is a 185 unit, $ 42 million upscale residential community that will begin construction at 1544 E. Lafayette, just east of the iconic 1300 East Lafayette Building. Scheduled to accept residents in the first quarter of 2016, DuCharme will support the City and local employers by serving the growing need for high-quality housing in a market where rental occupancy exceeds 97%.

Set in a lush, park-like landscaped area amongst the simple steel and glass structures of Lafayette Park which epitomize the International Style of architecture, DuCharme will find its place amongst the masterpieces of Detroit’s urban gems. DuCharme is positioned to be Detroit’s premier greater downtown community with all the amenities and conveniences of contemporary living.

DuCharme is being developed by well-known local developer, Walter Cohen, who developed Stroh River Place, The Park Shelton along with more than 1,000 other apartments in the City. Over the past 30 years, Cohen and his affiliates have developed and built more than 3,000 apartments in the Metropolitan Detroit Area. Mr. Cohen commissioned McIntosh Poris to design DuCharme and Sachse Construction to build it. Long-term HUD mortgage financing was recently secured.

DuCharme is within walking distance to the attractions and employment of the Central Business District, adjacent to the Dequindre Cut and a short stroll from the River Walk. It is within close proximity to all main thoroughfares serving the downtown area and is conveniently located near public transportation.

The luxury new construction will offer an attractive floor plan mix with sizes ranging from 500 to over 1,000 square feet and rents in the $ 900 to $ 1,800 range. The apartment mix includes 107 two-bedrooms, 66 one-bedrooms and 12 studios. Each apartment will have dedicated, secured, enclosed, on-site parking along with a large range of on-site amenities not currently present in the market. With an open air feel and modern kitchen appliances, a large glass enclosed fully-equipped fitness center, rooftop gardens, high speed Internet, fully connected business center, 24/7 full-site monitored security and a resort style swimming pool with deck, residents will experience an oasis within Detroit. DuCharme will have a one-of-a-kind, private 1.5 acre sky terrace where residents can relax amongst plush landscaping, a Zen meditation area and a unique barbequing area. Select apartments will feature private balconies/terraces, fireplaces, steam showers and dual master suite for private shared living arrangements. Apartment finishes include hardwood flooring, upgraded tile, designer cabinetry with stainless steel appliances, in-unit washer/dryer and built-in dishwashers.

“DuCharme’s private, serene living is steps away from the vibrancy of downtown. With beautiful views of the Detroit River from the DuCharme Sky Terrace, residents will be able to meditate at the Zen gardens, relax with friends at the pool or enjoy a bike ride or run on the Dequindre Cut. We are excited to be the first to bring such a unique living environment to Detroit,” shared David Cohen, Co-Managing Member, DuCharme Place, LLC.

Through Detroit’s recent resurgence, the central business district has become a significant center for entertainment and the arts, with expanding theater districts, the presence of three major professional sporting venues, and the opening of three casinos. Further, major employers have moved back into the City. This significant influx has created additional demand for rental units in and around the greater downtown area.

“It is these positive developments that prompted us to continue our long-term investment in the City and build our next major community here. We are privileged to have industry leaders in our own backyard dedicated to the continued growth of the greater downtown area and look forward to long-term relationships with the many companies fueling the growth of our urban core,” affirms Mr. Cohen.


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Colordarcy Reveals 7 Reasons Why Istanbul Will Be The Best Place To Invest In 2013

(PRWEB UK) 10 December 2012

Loxley McKenzie, Managing Director of Colordarcy commented, “There was a time when I could have held up several as candidates for the hottest property markets, however with Europe still in economic decline and Asian property prices slowing down, those choices are limited to just a few outposts where property prices are still rising.

One of these countries is Turkey and there are seven reasons why I expect it’s fastest growing city, Istanbul, to continue growing in 2013, even as property prices in most of the rest of Europe are likely to fall further.”

Colordarcy suggest the following seven reasons why property investors should be looking at Istanbul as the best place to invest in 2013.

1. Turkey has risen to third place in the world’s hottest property markets

According to Knight Frank’s latest global house price index, Turkey’s property prices increased on average 11.5% between Q3 2011 and Q3 2012. This is phenomenal considering that one of Turkey’s near neighbours, Greece, has been grappling with their own version of a Great Depression.

Nowhere else in Europe have property prices risen this fast this quickly and it is likely that further increases in the value of property in Istanbul will be seen as more investment money pours into the city.

2. Stable economy and a better credit rating

Turkey’s economic situation is far more stable than it used to be say country analysts at Colordarcy. Back in November 2012, Fitch finally lifted Turkey’s long term currency debt to BBB- from BB+ (Source: Reuters)

Ratings agencies are notorious for taking a ‘glass half full’ view of most countries at the moment, so it is a very positive sign for next year that Turkey has actually been upgraded.

3. Pent up demand

Turkey’s economy and property markets have grown so rapidly, it is easy to forget that the country is still emerging. What makes Istanbul so attractive is huge demand for property according to Colordarcy analysts.

At the very basic level, the price of property in Turkey is rising because demand is so high. 600,000 housing units a year are needed to cater for rapid population growth. (Source: Turkstat)

4. Lifting of reciprocity restrictions

The lifting of the reciprocity law in Turkey in May 2012 attracted global attention. Even before Turkey decided to lift its restrictions on foreign property investors, $ 1.1 billion worth of property had already been purchased, which was four times the amount in 2011.

5. Increased interest from Middle East investors

Turkey has been on a major charm offensive aimed at attracting investment from its Arab neighbours. The Middle East currently accounts for just 10 per cent of foreign direct investment in Turkey (Source: Turkstat) and there is a good chance that this will now rise considerably.

Back in October, the FT reported that one construction group developing a site in Istanbul had received $ 400m from Gulf investors before it was even launched.

6. Prices remain low in comparison to most Western European countries – even in Istanbul

The price per square metre of property in Istanbul has risen from £1,244 to £2,800 in 7 years, yet the average price per square metre of Turkey as a whole still has a long way to catch up with Spain, The Netherlands and the Czech Republic.

Istanbul still ranks a lowly 29th among the world’s most expensive cities to buy property. (Source: Global Property Guide).

7. Turkey has performed well even as the rest of Europe remained flat or in decline in 2013

Knight Frank’s latest report on European property makes for grim reading. Austerity measures being taken in most countries to pay off debt are clearly having a negative affect on property prices. The index rose just 1 percent year-over-year in the third quarter of 2012.

The 12 countries at the bottom of the list are all from Europe, and the fact that Turkey has weathered this year’s storm well and hints at more of the same to come in 2013 as the situation in Europe hopefully improves.

Notes to the editor:

Colordarcy is a leading property investment company that specialises in finding positive cash flow investment properties worldwide. Colordarcy investment property portfolio includes some of the best properties for sale in Brazil, Florida, Turkey and the United Kingdom.

For more information, supporting pictures or logo artwork, please contact:

Brett Tudor

PR Manager

Tel: +44 (0) 207 100 2393

Email: press(at)colordarcy(dot)com


Vocus©Copyright 1997-

, Vocus PRW Holdings, LLC.
Vocus, PRWeb, and Publicity Wire are trademarks or registered trademarks of Vocus, Inc. or Vocus PRW Holdings, LLC.

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